CCH Axcess Tax

Tax Adjustment, Preference Items, and Section 754 Depreciation

Enter the tax adjustment and preference depreciation amounts in this section.

The federal tax preference depreciation amounts entered carry to Form 4626 or Schedule K.

Section 754 entries do not apply to Form 1120 and Form 1120S returns.

When entering Section 754 depreciation in this section, a duplicate entry is required in the appropriate depreciation box in the sections above. The total depreciation on Form 4562 must include the Section 754 amount. Specially allocate the Section 754 depreciation to the partners for Form 1065 returns on Special Allocations worksheet.